it is a taxpayer funded drill by the department of foam-hand security, your government and there is a lot more where this came captioning sponsored by comedy central ( theme song playing ) ( cheers and applause ) ♪ ♪ oh merry ♪ ♪ ♪ (cheers and applause) >> stephen: welcome to the report, thank you for joining us! stephen, stephen, stephen! stephen, stephen, stephen! stephen, stephen, stephen! (cheers and applause) thank you, ladies and gentlemen. thank you so much, folks. there is tons of excitement in the air tonight. it is the final night of hobbit week. (cheers and applause) i'm so excited, folks. i'm so excited about tonight's show, i have been camping outside my studio since 5 a.m. dressed as my favorite character. tonight's guest director peter jackson. (cheers and applause) who has requested that tonight's interview be broken into three parts and aired every december until 2014. you know, folks, it's just been a great week. and spending time with the creators of the hobbit for the past four days has changed me in ways i never expected. i mean it's hard to put my finge